All You Need To Know About Granny Flat

Granny flats are small separate houses made on the same property. These flats are named so as they are mostly made for the grandparents and other relatives to have a comfortable stay. The granny flats can even serve as a separate room for a teenager, can be used for the house helpers or nannies, and it can even be put for rent. Most of the Granny flat Chatswood and in other nearby areas are found to be made by neutral families.  These flats can even be a source of extra income for the people and can even add value to the property.

The granny flats are also known as an accessory dwelling unit in most areas of Australia. The granny flats are whole, consisting of a bedroom, a kitchen, laundry, and many Granny flat Chatswood even come with separate driveways for the tenants though there are various reasons as to why a person should invest in a granny flat.

Options To Build A Granny Flat

There are two options; either one can build a whole new building on the property or can extend the garage and make a new flat. The Granny flat Chatswood is usually made in the backyard and take less space. If a person has a property of 450-meter squares, then he/she can build a granny flat without any problem. The granny flats are usually taken 60-meter squares space and have everything in them. If a person invests in a granny flat, then it would probably cost him less than buying a whole new property. The approximate amount for making a new granny flat is quite more, while if one wants to extend the garage and convert it into a granny flat then it would cost approximately less. The reason why the late costs more are that it would take a lot of money to build a granny flat, which is hard work. 

Why Should You Build A Granny Flat?

If a person invests in a granny flat, then not only would he be able to get an extra income, but it would even add more value to the property. Thus, when the property is put up on sale, the value would be much more than any other property which does not have a granny flat. Though there are certain rules one should be familiar with before making a granny flat. The foremost being that the owner of the property and that of the granny flat should be the same. Another rule is that there can be only a single granny flat in a property. Most of the states have some extra rules add up to this like the Granny flat Chatswood should have separate driveways and parking systems for the tenants. 

Moreover, Granny flat Chatswood is a great option for students who are studying in colleges and require a house with affordable rent. If a person invests in a granny flat, they can even get a loan for it. The loan can be used or making the granny flat, and if the after results are not good, like the amount received from rents is not enough for the maintenance of the granny flat, then the person can claim for the loan and also for a tax deduction. Overall, it would be a wise choice to invest in a granny flat rather than buying a whole new property.